Published 21:04 IST, July 1st 2024
GST collection rises 8% to Rs 1.74 lakh crore in June: Report
The gross Goods and Services Tax collection so far this fiscal (April-June) stood at Rs 5.57 lakh crore.

GST collected: The gross GST collection increased 8 per cent to Rs 1.74 lakh crore in June, sources said on Monday. As per sources, the government has done away with the practice of issuing an official release of monthly GST collection data.
As per sources, the gross Goods and Services Tax (GST) collection so far this fiscal (April-June) stood at Rs 5.57 lakh crore. The GST collection in June is higher than the Rs 1.73 lakh crore collected in May 2024. It is 8 per cent higher than Rs 1.61 lakh crore mopped up in June 2023.
The Integrated GST (IGST) worth Rs 39,586 crore was settled towards Central GST (CGST) and Rs 33,548 crore towards State GST (SGST). The GST mop-up had touched a record high of Rs 2.10 lakh crore in April.
As per government sources, the Union Ministry of Finance would not be releasing any statement with regard to tax collection going ahead. Commenting on the tax mop-up, EY India Tax Partner Saurabh Agarwal said this healthy performance showcases a robust economy, with businesses revealing a commendable self-compliance. The timely audits, scrutiny measures, and effective enforcement by the concerned department have all contributed to this success.
"The considerable surge in collections also raises expectations for the next wave of GST reforms. These reforms could potentially address working capital blockages, streamline tax rates, ease ITC restrictions, and implement sector-specific solutions to tackle existing challenges," Agarwal added.
(With PTI inputs)
Updated 22:04 IST, July 1st 2024